Restrictions of Borrower. Except for this Agreement and the Loan Documents, the Inventory Loan Documents, the Tranche A Loan Documents, the Tranche C Loan Documents, the Xxxxxx Documents, the Sovereign Documents, THE DZ DOCUMENTS OR THE SILVERLEAF FINANCE II DOCUMENTS, Borrower will not be, on or after the date hereof, a party to any contract or agreement which restricts its right or ability to incur indebtedness or prohibits Borrower's execution of or compliance with the terms of this Agreement, the other Loan Documents, the Inventory Loan Agreement, the Tranche C Facility Loan Agreement, the Additional Credit Facility Loan Agreement, the Xxxxxx Documents, the Bond Holder Exchange Documents, the Sovereign Documents, the DZ Documents or THE SILVERLEAF FINANCE II
Restrictions of Borrower. Section 6.14 is hereby deleted in its entirety and in its place instead is substituted the following:
Restrictions of Borrower. Neither the Borrower nor any Resort, nor to the Borrower's knowledge, any Timeshare Owners' Association, is a party to any contract or agreement, or subject to any Lien, charge or corporate restriction, which materially and adversely affects its or their business. The Borrower will not be, on or after the Closing Date, a party to any contract or agreement which restricts its right or ability to incur indebtedness, or prohibits the Borrower's execution of, or compliance with the terms of this Agreement or the other Loan Documents. The Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Lender as provided hereunder.
Restrictions of Borrower. Except for this Agreement and the Loan Documents, the Inventory Loan Documents, the Tranche A Loan Documents, the Tranche C Loan Documents, the Heller Documents and the Sovereign Documents, Borrower will not be, ox xx xfter the date hereof, a party to any contract or agreement which restricts its right or ability to incur indebtedness or prohibits Borrower's execution of or compliance with the terms of this Agreement, the other Loan Documents, the Inventory Loan Loan Agreement, the Tranche C Facility Loan Agreement, the Additional Credit Facility Loan Agreement, the Heller Documents, the Bond Holder Exchange Documents, the Sovereign Dxxxxxxts or the DZ Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided herein, and, with respect to the Land, the Additional Resort Collateral, the Silverleaf Finance I. Inc., Stock and the Ineligible Notes Receivable, in favor of Heller and Sovereign, as applicable.
Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower's execution of or compliance with the terms of this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided herein.
Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower’s execution of or compliance with the terms of this Agreement, the other Loan Documents, or the Inventory Loan Agreement. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided herein and TFC under the Inventory Loan.
Restrictions of Borrower. Neither Borrower, the DRC Affiliates, the Resort Manager or the Club Manager is a party to any contract or agreement, or subject to any Lien, charge or corporate restriction, which could reasonably be expected to have a Material Adverse Effect. Borrower will not after the Closing Date, become a party to any contract or agreement which prohibits Borrower’s execution of, or compliance with the terms of, this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Receivables Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Lender as provided hereunder.
Restrictions of Borrower. Borrower is not a party to any contract or agreement which restricts its right or ability to incur indebtedness, or prohibits the execution of, or compliance with, this Agreement or any of the other Security Documents or Loan Documents by Borrower. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any Collateral, whether now owned or hereafter acquired, to be subject to a Lien other than the Liens provided for herein, in the other Security Documents and in each Declaration.
Restrictions of Borrower. 34 5.14 Broker's Fees .......................................... 34 5.15 Tax Identification/Social Security Numbers ............. 34 5.16
Restrictions of Borrower. Neither Borrower, nor any Affiliate thereof is a party to any contract or agreement, or subject to any Lien, charge, or restriction, that materially and adversely affects its business. No Borrower will be, on or after the Closing Date, a party to any contract or agreement that restricts its right or ability to incur indebtedness (with the exception of the participation lenders' interests in connection with certain Pledged Notes Receivable as set forth in Exhibit "D" attached hereto and the Timeshare Receivables Hypothecation Facility, Timeshare Receivable Purchase Facility, Timeshare Construction Loan Facility and Long Wharf Loan, or prohibits any Borrower's execution and delivery of, or compliance with the terms of, this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of any contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except for Permitted Liens and Encumbrances and Liens in favor of Lender as provided hereunder.
